South Florida Business Journal

December 22, 2015

By Emon Reiser

New York-based Greystone & Co. and South Florida’s ALTA Developers have sold The Mile, a 120-unit luxury apartment project, for $48 million.

The 13-story development at 3622 S.W. 22nd St. in Miami was co-developed by the sellers. The buyer was Monogram Residential Trust Inc., a real estate investment trust based in Plano, Texas. The off-market deal was arranged by HFF.

The Real Deal

December 22, 2015

By Katherine Kallergis

A joint venture between Greystone Property Development and Alta Developers has sold a luxury apartment tower in Miami for $48 million or $400,000 per unit, county records show.

Monogram Residential Mile LLC, an affiliate of Monogram Residential Trust, bought the 13-story tower, at 3622 Southwest Coral Way near Coral Gables. The Plano, Texas-based real estate investment trust also bought a newly completed apartment complex in downtown Boca Raton for $82 million in September.

 

The Real Deal

November 30, 2015

By Konrad Putzier

Greystone Property Development is looking to bring Robert A.M. Stern-designed condos to Sag Harbor, in what would be its first Hamptons Project.

This week the New York-based developer released first renderings for the 11-unit waterfront project at 1 Ferry Road, which is still awaiting planning approval. Greystone’s joint venture partner is local developer Michael Maidan.

“Many of our deals are kind of where an opportunity is presented to us,” said Greystone Property Development’s CEO Jeff Simpson. “This was one where we had an opportunity to go in a joint venture structure with someone who has been in that space for a few years.”